On April 11, Wall Street Journal reporter Nick Timiraos, known as the "Federal Mouth Bottle", published an article saying that a consumer survey at the University of Michigan showed that inflation expectations soared in one year, jumped from 5.0% to 6.7%, the highest level since 1981, with an abnormal increase of 0.5 percentage points or more for four consecutive months. Democrats, Republicans and independents expect a full-scale rise in long-term inflation expectations climbed to 4.4% (previously 4.1%), with independents gaining particularly notable. Consumer sentiment is now even lower than the lows when oil prices and inflation soared during Biden's presidency.
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